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Forums Human Capital Management Lawson S3 HR/Payroll/Benefits

Imputed Income

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Paula
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4/12/2010 7:31 PM
Does anyone know if the imputed income that the BN150 calculates for 'group term life' should be added on the earnings side AND 'washed' out with a deduction on the other side so the employee is taxed on the excess cost of the life insurance only?
Deleted User
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4/12/2010 7:53 PM
You justt need to set it up as a PIK(payment in Kind), not cash income pay code. You will tie it to the pay class identified on your HR00.

I hope that points you in the right direction.
Deleted User
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4/13/2010 11:04 AM
Because the functionality is built into the non-cash pay calculation, you don't actually "see" the deduction washing out the amount, but if you perform a manual calculation, you'll see that the net pay is off by the amount of non-cash income. This is different than most other applications where it's easier to cross-foot that the calc is only taxing the employee.
Paula
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Posts: 2
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4/21/2010 6:21 PM
Thank you SO much! Not sure why Lawson couldn't have told me that. :)